Going innovating step-by-step for renewal makes sense.

Renewal- this seems to be really an important issue we all need to think about today; in society, in our organizations, in our institutions. Renewal of what we already have does can give us further opportunity to improve on it for what we know that works, what we think is right, what we value and what we just simply need to enhance.

We don’t always need to just throw away what we have and simply replace it with something completely new. This has its real adoption problems, it takes time and often a lot of money. Sometimes is just does not make sense to simply abandon, when recognition and adjustment would simply really do. Knowing what is good and with that clarity of what needs to be changed is often a better route to take.

We should look at what you have, in our current portfolio of products, services, guidelines & policies and see if they can be ‘freshened up’. In today’s difficult times exploring renewal is very worthwhile. Offering change constantly is very disturbing, improving, if we can, on what we already have is not, it is cheaper and often far more effective.

A more structured and systematic approach though, should be taken

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Economic growth is an outcome of the innovation trajectory we set.

Today managing innovation is complex; often success is measured and valued by the creative destruction of others. The ability to ‘evolve’ is very determinant on the knowledge base, either within a given economy or within a ‘federation’ to bring together as something new, offering more value than what is on offer today. Innovation is highly dynamic in its constant change but also in its needs of constant co-ordination of its parts.

Nations are Very Different

No one nation can just copy another, the same as one business entity cannot simply copy another, each has distinct characteristics, a history and a certain set of ‘physical’ boundaries on where it is located. Different cultures, different histories set each Nation apart.

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The ‘pull’ of the dual forces within our cultural thinking

I lived for about fifteen years in Asia until a short while ago, and in the before and in the in-between period, I travelled there a lot. Participating in Asia, watching how Asia has evolved has been a real experience, that stays with you as something hugely valuable, as it partly shapes your thinking and how you look at things going on in the world. Some events today set me thinking that resulted in this blog.

It was August 3rd 2010, exactly one year ago today,  I wrote one of my first blog entries for this site, entitled “the Yin and Yang of Innovation” (http://bit.ly/gXeWir)  and talked about the ‘fluidness’ in innovation that makes it hard to manage. How do you get the balance right in managing the innovation activity?

I described yin yang as polar opposites or seemingly contrary forces that are interconnected and interdependent in the natural world, and how they give rise to each other in turn. Opposites thus only exist in relation to each other.

Yin and yang are bound together as parts of a mutual whole

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Learning to absorb new knowledge for innovation

In a blog I wrote in November last year entitled “Moving-towards-a-more-distributed-innovation-model”( http://bit.ly/b38ixv)  I outlined some thoughts on the flow of knowledge in a distributed innovation model and discussed the Absorptive Capacities more from an internal organizational perspective.

Increasingly we are looking outside for new knowledge that needs internally managing.

As organizations seek increasingly outside their own walls, the appreciation of how they are managing knowledge, learning and interpreting this is becoming a critical aspect of open innovation to be successful. There is a growing need to absorb, integrate and apply this in new and novel ways for accelerating the innovation performance.  The more we seek, the more the knowledge increases in complexity as markets are rapidly changing. The more we are relying on knowledge flowing into the organization the more we have to strength our inter-dependence and collaboration efforts to extract the knowledge we are acquiring for it potential value. Are organizations recognizing the value of structuring their knowledge flows? Do they have the right learning mechanisms to accelerate and exploit new potentials from this knowledge?

Organizations tend to be set up for incremental learning.

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The importance of managing our intangible capital is the key for today’s innovating business.

Today, we are valuing organizations in completely different ways than some years back. In the past we were valuing organizations purely on their tangible assets, the ‘hard’ (easier to) quantify assets, shown on the balance sheets as the basis for the value of the organization. Today that is not the case; it is more the off-balance sheet bound up in networks, relationships, connections and the ability to manage the fluidity that is occurring constantly around us, and the organizations ability to respond appropriately in seeking out improved, new value through better innovative offerings .

Intangibles are providing the new value system equation to focus upon

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